GE HealthCare Technologies Inc. $GEHC Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC trimmed its stake in GE HealthCare Technologies by 2.0% in the fourth quarter, selling 18,137 shares and ending with 898,798 shares valued at about $73.9 million.
• Institutional ownership remains high, with hedge funds and other large investors holding about 82.06% of the company’s stock. Several firms, including Vanguard and Dodge & Cox, increased their positions during the quarter.
• GE HealthCare’s latest results were mixed: revenue rose 7.4% year over year to $5.13 billion, but EPS of $0.99 missed expectations. Analysts currently rate the stock a “Moderate Buy” with an average price target of $80.21.

Hsbc Holdings PLC lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 898,798 shares of the company's stock after selling 18,137 shares during the quarter. Hsbc Holdings PLC owned approximately 0.20% of GE HealthCare Technologies worth $73,920,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in GE HealthCare Technologies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 52,275,767 shares of the company's stock valued at $4,287,658,000 after buying an additional 267,058 shares during the period. Dodge & Cox lifted its holdings in shares of GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company's stock worth $2,559,945,000 after acquiring an additional 3,693,918 shares during the period. Capital Research Global Investors lifted its holdings in shares of GE HealthCare Technologies by 1.6% during the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock worth $2,080,248,000 after acquiring an additional 389,796 shares during the period. State Street Corp boosted its position in shares of GE HealthCare Technologies by 2.0% in the fourth quarter. State Street Corp now owns 20,049,677 shares of the company's stock worth $1,644,475,000 after acquiring an additional 401,932 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in GE HealthCare Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 12,112,503 shares of the company's stock valued at $989,673,000 after purchasing an additional 37,159 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Evercore set a $80.00 price target on shares of GE HealthCare Technologies in a research report on Thursday, April 30th. The Goldman Sachs Group reissued a "neutral" rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Oppenheimer restated an "outperform" rating and set a $85.00 price objective on shares of GE HealthCare Technologies in a report on Thursday, April 30th. Weiss Ratings cut GE HealthCare Technologies from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 15th. Finally, Piper Sandler lowered their price target on GE HealthCare Technologies from $88.00 to $74.00 in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.21.

GE HealthCare Technologies Trading Down 1.5%

Shares of GEHC stock opened at $60.64 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm's 50 day moving average price is $65.23 and its two-hundred day moving average price is $74.42. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.74.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the company earned $1.01 EPS. GE HealthCare Technologies's revenue was up 7.4% on a year-over-year basis. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.89 EPS for the current year.

Insider Activity

In related news, CEO Peter J. Arduini purchased 4,169 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $59.92 per share, for a total transaction of $249,806.48. Following the acquisition, the chief executive officer owned 259,424 shares in the company, valued at approximately $15,544,686.08. This trade represents a 1.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Saccaro purchased 3,310 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $60.60 per share, with a total value of $200,586.00. Following the completion of the acquisition, the chief financial officer owned 87,471 shares in the company, valued at $5,300,742.60. This represents a 3.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 21,847 shares of company stock worth $1,361,355 in the last quarter. Insiders own 0.36% of the company's stock.

GE HealthCare Technologies Profile

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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